Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.14%
12M T-Bill Rate9.95%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.60% / 11.70%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

CPC market share reduced from 90% to 70% after SINOPEC entered into the market

EnergyApr 28, 2024
CPC market share reduced from 90% to 70% after SINOPEC entered into the market

The liberalization of fuel distribution in Sri Lanka has indeed led to a significant reduction in the market share of CPC, from 90% to 70%. The entry of SINOPEC into the market last year has played a key role in this shift, particularly due to CPC's difficulties in sourcing the required foreign exchange.

SINOPEC's entry has been notable, quickly surpassing the 10% market share mark. Additionally, LIOC has captured a significant portion of the market, accounting for 17% of the diesel distribution market share and 18% of the petrol distribution market share.

For the first three months of 2024, SINOPEC has further expanded its presence, reaching a 13% market share in petrol distribution. This suggests a dynamic and competitive landscape in the fuel distribution sector in Sri Lanka, with multiple players vying for market share.

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